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<TITLE>Offer to Purchase Real Estate</TITLE>
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<META NAME="AUTHOR" CONTENT="Sergei Nemirovsky">
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<P ALIGN=CENTER STYLE="margin-top: 0.17in; margin-bottom: 0.04in; font-weight: normal"> Offer to Purchase Real Estate </P>
<br />
<P >To: <span id="broker" class="field">Rick Hale & Associates, Keller Williams Realty Atlanta Midtown</span>, <span id="email" class="field">closings@rickhale.com</span> </P>
<br />
<br />
<P ><span id="buyer" class="field">Snook &amp; Snook</span>,
  referred to herein as BUYER, offers to purchase the following
  described real estate from <span id="seller" class="field">????????</span>, referred to herein as
  SELLER, upon the terms and conditions stated herein. </P>
<br />
<P >This offer shall expire unless accepted by 5:00 p.m. on <span id="tommorowsDate" class="field">Thursday, January 6th</span>.
  SELLER shall signify acceptance by executing the attached form of acceptance. </P>
<br />
<P >The gross purchase price shall be $<span id="price" class="field">18,500.00</span> (<span id="priceNice" class="field">eighteen thousand, five hundred dollars</span>). The legal description of the property is: </P>
<P ><span id="full_address" class="field">1506 Joy Lane, Decatur, Georgia  30032</span></P>
<br />
<P >To be paid upon the following terms: </P>
<br />
<P >$<span id="price" class="field">18,500.00</span> (<span id="priceNice" class="field">eighteen thousand, five hundred dollars</span>), to be paid at closing. </P>
<br />
<P >Maximum application fee: $25</P>
<br />
<P >BUYER shall pay cash for the property. If BUYER elects to rescind the transaction, BUYER shall receive any deposits made from SELLER. </P>
<br />
<P >The closing will be held within <span id="deadline" class="field">30</span> days of the acceptance of this offer
  to the SELLER, but in no event in less than 20 days from the notice.  The SELLER shall convey to the owner by warranty deed the property
  herein, and the title thereto shall be merchantable. Within 30 days of acceptance, the SELLER shall provide a binder for title insurance
  in the principal amount of the purchase price. The title shall be free and clear of any encumbrances other than those, if any, to be
  assumed by the BUYER at closing. Should any defects be in the title, the SELLER shall have 60 days to clear the same. If the SELLER is
  unable to do so, BUYER shall have the option of closing or rescinding this contract. Should BUYER rescind the contract, then the SELLER
  shall refund as liquidated damages, and not a penalty, the funds paid for the option to BUYER. </P>
<br />
<P >The
  BUYER may at its expense obtain a current survey of the property. Should the survey indicate encroachments, then the SELLER shall
  remedy the same within 60 days. Should SELLER fail to clear such encroachments, then the BUYER shall have the option of closing or
  rescinding this contract. Should BUYER rescind the contract, then the SELLER shall refund as liquidated damages, and not a penalty, the
  funds paid for the option to BUYER. </P>
<br />
<P >The SELLER shall maintain the property and all improvements in the same condition as that which exists on the date of acceptance of this agreement, and shall deliver the same to the BUYER in the same condition, ordinary wear and tear excepted. </P>
<br />
<P >At closing, SELLER shall provide a report from a licensed entomologist certifying the absence of termites and other wood destroying
  organisms. Should the report show the active presence of any wood destroying organisms, and the BUYER shall have the following options: </P>
<P >a) if the damage and cost of treatment is less than 10% of the purchase price, the BUYER may withhold this sum and close, and the same shall be a credit on the sums due at closing; </P>
<P >b) if the damage exceeds 10% the BUYER may agree to an extension of closing for 90 days to allow SELLER to repair the same at its
  expense, or, the BUYER may refuse to close, and shall have the sums paid for the option fully refunded by SELLER. </P>
<br />
<P >During the period between exercise of the option by the buyer and the closing the premises shall be adequately insured for fire and other perils. </P>
<br />
<P >The following closing costs will be paid by SELLER: </P>
<P >________________________________________________________________</P>
<br />
<P >The following closing costs will be paid by BUYER: </P>
<P >________________________________________________________________</P>
<br />
<P >The parties hereto acknowledge that ___________, a licensed real estate broker/salesman was the procuring broker herein. </P>
<br />
<P >Should the premises or any portion thereof be leased, SELLER shall provide to the BUYER either a copy of and any all leases in effect, or, should there be any tenants in possession without current written leases, the SELLER shall provide estoppel letters at least 5 days
  prior to closing stating that there is no lease and the duration of any verbal lease, and the terms of the verbal lease. </P>
<br />
<P >All taxes for the current year, escrows on mortgages assumed by the BUYER, prepaid insurance on policies assumed by BUYER, homeowners
  association dues, shall be prorated between the parties as of the date of closing. </P>
<br />
<P >At the time of closing SELLER shall provide an affidavit to </P>
<P >BUYER
  that either: </P>
<P >a) there have been no improvements made which would subject the property to the filing of mechanic&rsquo;s, materialman, labor or other such liens; or </P>
<P >b) that there were improvements made to the subject property and all persons having the right under law to lien the property were paid or lien waivers obtained. </P>
<br />
<P >The SELLER represents to the BUYER that the present use of the property is lawful and complies with all zoning, governmental regulations and restrictive covenants and other similar contracts in effect. </P>
<br />
<P >Dated: <span id="date" class="field">January 5th, 2011</span> </P>
<br />
<br />
<P ><span id="date" class="field"><img src="johnsnook.sig.gif" alt="" /></span> </P>
<P ><span id="date" class="field">January 5th, 2011</span>, BUYER/OFFEROR </P>
<br />
<br />
<P >ACCEPTANCE OF OFFER </P>
<br />
<br />
<br />
<P >I hereby accept the offer set forth above. </P>
<br />
<br />
<P >Dated: <span id="date" class="field">mm/dd/yy</span> </P>
<br />
<br />
<br />
<br />
<br />
<P >________________________________________ </P>
<P >____________,
  SELLER/OFFEREE </P>
<br />
<P >Witnesses
  as to Seller&rsquo;s acceptance: </P>
<br />
<br />
<P >________________________________________ </P>
<br />
<br />
<br />
<br />
<P >________________________________________ </P>
<P ALIGN=CENTER STYLE="margin-bottom: 0in; page-break-before: always"> <FONT SIZE=4>Offer to Purchase Real
  Estate </P>
<P ALIGN=CENTER >Review
  List</P>
<P ALIGN=CENTER ><BR>
</P>
<P >This review list is provided to inform you about this document in question and assist you in its preparation.  This is a standard offer to
  purchase real estate.  Be sure to modify the terms to satisfy your
  interests.</P>
<br />
<OL>
  <LI>
    <P >Make
      multiple copies.  Give one to each signatory.  Keep one with the
      transaction file.</P>
  <LI>
    <P >This
      is sufficient to close the transaction.  There is no need, unless
      you choose, to formalize this into a purchase and sale agreement. 
      In fact, avoiding another &ldquo;go round&rdquo; can prevent the
      other side from another bite at the apple, so to speak.</P>
  <LI>
    <P STYLE="margin-bottom: 0in; page-break-before: always"> </P>
</OL>
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